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Economy

Wall Street, Global Markets Bounce Back on China's Rate Cut

NEW YORK (AP) — Wall Street pointed toward gains before the opening bell Friday after a surprise interest rate cut... Read More

NEW YORK (AP) — Wall Street pointed toward gains before the opening bell Friday after a surprise interest rate cut from China lowered, at least temporarily, the anxiety over a slowdown in the world's second-largest economy. Futures for the Dow... Read More

A Bear Market May be on the Horizon. Here’s What That Means

NEW YORK (AP) — The bears are rumbling toward Wall Street. The stock market’s skid this year has pulled the... Read More

NEW YORK (AP) — The bears are rumbling toward Wall Street. The stock market’s skid this year has pulled the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and... Read More

2022-05-17 16:51:23
by Reece Nations
California Fights Inflation With Relief Package, Minimum Wage Bump 

SACRAMENTO, Calif. — Californians are getting help addressing the costs of rising inflation through a higher minimum wage and a... Read More

SACRAMENTO, Calif. — Californians are getting help addressing the costs of rising inflation through a higher minimum wage and a new relief package proposal from Gov. Gavin Newsom. California's minimum wage will rise to $15.50 per hour next year under... Read More

2022-05-11 19:40:00
by Reece Nations
Biden Administration Taking Steps to Lower Farming, Food Costs

KANKAKEE, Ill. — President Joe Biden is blaming Russia’s invasion of Ukraine for supply chain disruptions that are causing yield-impairing... Read More

KANKAKEE, Ill. — President Joe Biden is blaming Russia’s invasion of Ukraine for supply chain disruptions that are causing yield-impairing fertilizer shortages and driving up food prices. The war’s repercussions have sent international food prices to record highs, according to... Read More

2022-05-06 20:20:09
by Dan McCue
New York’s Iconic One Times Square to Undergo $500M Facelift

NEW YORK — One of New York City’s most iconic locations, One Times Square, scene of the annual New Year’s... Read More

NEW YORK — One of New York City’s most iconic locations, One Times Square, scene of the annual New Year’s Eve ball drop watched by millions, is about to undergo a $500 million redevelopment. Jamestown, a real estate investment and... Read More

Echoes of 2006: Jazz Fest Returns to New Orleans for 2022

NEW ORLEANS (AP) — Once silenced by the pandemic, the New Orleans Jazz & Heritage Festival opens Friday for the... Read More

NEW ORLEANS (AP) — Once silenced by the pandemic, the New Orleans Jazz & Heritage Festival opens Friday for the first time in three years — a long awaited 2022 revival that holds echoes of 2006 when the annual celebration... Read More

2022-04-26 20:29:46
by Dan McCue
Business Events, Venues Still Struggling in Uneven Pandemic Recovery of Travel Sector

WASHINGTON — Despite the pent up desire of business travelers to once again attend conferences, conventions or trade shows, the... Read More

WASHINGTON — Despite the pent up desire of business travelers to once again attend conferences, conventions or trade shows, the business travel sector continues to struggle in this period of uneven recovery from the lingering, but far less problematic coronavirus... Read More

US, World Markets Retreat After Powell's Hawkish Rate Stance

NEW YORK (AP) — Wall Street was pointed toward losses before markets opened on Friday, following global shares lower after... Read More

NEW YORK (AP) — Wall Street was pointed toward losses before markets opened on Friday, following global shares lower after Federal Reserve Chair Jerome Powell indicated aggressive increases in interest rates were needed to fight inflation. The futures for the Dow industrials... Read More

2022-04-18 23:22:05
by Reece Nations
Net Zero Carbon Plan Could Bolster Texas Economy

AUSTIN, Texas — Energy scientists at the University of Texas at Austin contend in a new report that their state... Read More

AUSTIN, Texas — Energy scientists at the University of Texas at Austin contend in a new report that their state could strengthen its economy while eliminating carbon pollution within the next 30 years. The report maintains Texas is well-positioned to... Read More

Biden Picks Michael Barr for Fed's Bank Regulation Post

WASHINGTON (AP) — President Joe Biden said Friday he plans to nominate Michael Barr, the dean of the University of... Read More

WASHINGTON (AP) — President Joe Biden said Friday he plans to nominate Michael Barr, the dean of the University of Michigan's public policy school, to be the Federal Reserve's vice chairman of supervision. The selection of Barr comes after Biden’s... Read More

2022-04-04 17:41:27
by Dan McCue
House Panel to Hold Hybrid Hearing on Gas Prices

WASHINGTON — The surging price of gasoline across the country will be the subject of a hybrid hearing April 6... Read More

WASHINGTON — The surging price of gasoline across the country will be the subject of a hybrid hearing April 6 before a subcommittee of the House Energy and Commerce Committee. The Subcommittee on Oversight and Investigations will convene on Wednesday,... Read More

US Growth in Q4 Revised Lower to 6.9%, Slower Growth to Come

WASHINGTON (AP) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December,... Read More

WASHINGTON (AP) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates. For all of 2021, the nation’s gross domestic product —... Read More

AP-NORC Poll: Low Marks for Biden on Economy as Prices Rise

WASHINGTON (AP) — A majority of Americans say they don't blame President Joe Biden for high gasoline prices, but they're... Read More

WASHINGTON (AP) — A majority of Americans say they don't blame President Joe Biden for high gasoline prices, but they're giving his economic leadership low marks amid fears of inflation and deep pessimism about economic conditions. About 7 in 10... Read More

Fewer Americans File for Jobless Claims Last Week

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week as layoffs continue to fall amid a strong job... Read More

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week as layoffs continue to fall amid a strong job market rebound. Jobless claims fell by 15,000 to 214,000 for the week ending March 12, down from the previous week's... Read More

Fed Begins Inflation Fight With Key Rate Hike, More to Come

WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s,... Read More

WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year. The Fed's quarter-point hike... Read More

Wall Street Heads for Gains after World Shares Sink

Wall Street pointed toward gains in premarket trading Tuesday after world share prices sunk lower, with Hong Kong down almost... Read More

Wall Street pointed toward gains in premarket trading Tuesday after world share prices sunk lower, with Hong Kong down almost 6% and Shanghai losing 5%. Oil prices slid about 8% as virus lockdowns and rising numbers of COVID cases in... Read More

World Shares Mixed, Oil Down $5.50 Per Barrel

BANGKOK (AP) — Shares rose in Europe after a mixed session in Asia on Monday, where Hong Kong’s Hang Seng... Read More

BANGKOK (AP) — Shares rose in Europe after a mixed session in Asia on Monday, where Hong Kong’s Hang Seng index sank 5% after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak... Read More

Stocks Slip on Wall Street as Oil and Inflation Worries Rise

NEW YORK (AP) — Stocks slipped on Wall Street Thursday as global markets remain choppy amid uncertainty about where inflation,... Read More

NEW YORK (AP) — Stocks slipped on Wall Street Thursday as global markets remain choppy amid uncertainty about where inflation, interest rates and the global economy are heading. The S&P 500 slumped 1.2% in morning trading, on pace for its... Read More

Wall Street Eyes Rebound, European Stocks Surge on Diplomacy

NEW YORK (AP) — Wall Street futures rebounded Wednesday and European shares rose sharply as investors eyed diplomatic efforts to... Read More

NEW YORK (AP) — Wall Street futures rebounded Wednesday and European shares rose sharply as investors eyed diplomatic efforts to end Russia's attack on Ukraine, while Asian markets sank after Chinese inflation accelerated. Futures for Wall Street’s S&P 500 index... Read More

Stocks Fall on Wall Street as US Oil Price Briefly Hits $130

NEW YORK (AP) — Stocks are falling in morning trading on Wall Street, as more gains for oil prices threaten... Read More

NEW YORK (AP) — Stocks are falling in morning trading on Wall Street, as more gains for oil prices threaten to worsen the world's already high inflation. The S&P 500 sank 1.5% after a barrel of U.S. oil leaped as... Read More

US Added 678,000 Jobs in February in Sign of Economic Health

WASHINGTON (AP) — U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health... Read More

WASHINGTON (AP) — U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.... Read More

Fewer Americans Applied for Jobless Benefits Last Week

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week reflecting a low number of layoffs across the economy.... Read More

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week reflecting a low number of layoffs across the economy. Jobless claims fell by 18,000 to 215,000 for the week ending February 26, from 233,000 the previous week, the Labor... Read More

Stocks Mixed, Oil Tops $110 a Barrel as Ukraine War Rages

NEW YORK (AP) — Oil prices surged above $110 per barrel Wednesday as Russian forces stepped up attacks on Ukrainian... Read More

NEW YORK (AP) — Oil prices surged above $110 per barrel Wednesday as Russian forces stepped up attacks on Ukrainian cities, while premarket trading on Wall Street pointed toward a higher open. Investors appeared to take in stride Federal Reserve... Read More

Stocks Tumble; Oil, Wheat Prices Soar After Ukraine Attack

NEW YORK (AP) — Stocks tumbled worldwide on Thursday after Russia’s attack of Ukraine sent fear coursing through markets and... Read More

NEW YORK (AP) — Stocks tumbled worldwide on Thursday after Russia’s attack of Ukraine sent fear coursing through markets and upped the pressure on the high inflation already squeezing the global economy. On Wall Street, the S&P 500 sank 1.6%... Read More

National Guard to Help DC Control Traffic for Truck Convoys

WASHINGTON (AP) — The Pentagon has approved the deployment of 700 unarmed National Guard troops to the nation’s capital as... Read More

WASHINGTON (AP) — The Pentagon has approved the deployment of 700 unarmed National Guard troops to the nation’s capital as it prepares for trucker convoys that are planning protests against pandemic restrictions beginning next week. Defense Secretary Lloyd Austin approved... Read More

Rents Reach 'Insane' Levels Across US with No End in Sight

Krystal Guerra's Miami apartment has a tiny kitchen, cracked tiles, warped cabinets, no dishwasher and hardly any storage space. But... Read More

Krystal Guerra's Miami apartment has a tiny kitchen, cracked tiles, warped cabinets, no dishwasher and hardly any storage space. But Guerra was fine with the apartment's shortcomings. It was all part of being a 32-year-old graduate student in South Florida,... Read More

Weekly US Jobless Claims up, But Remain Historically Low

WASHINGTON (AP) — Applications for U.S. unemployment benefits rose last week but remain near historically low levels, reflecting relatively few... Read More

WASHINGTON (AP) — Applications for U.S. unemployment benefits rose last week but remain near historically low levels, reflecting relatively few layoffs across the economy. Jobless claims rose by 23,000 to 248,000 for the week ending Feb. 12, the Labor Department... Read More

2022-02-11 23:30:47
by Reece Nations
Scott, Hassan Lead Bipartisan Bill to Reinstate Employee Retention Tax Credit 

WASHINGTON — Sens. Tim Scott, R-S.C., and Maggie Hassan, D-N.H., on Thursday introduced legislation to reinstate the Employee Retention Tax... Read More

WASHINGTON — Sens. Tim Scott, R-S.C., and Maggie Hassan, D-N.H., on Thursday introduced legislation to reinstate the Employee Retention Tax Credit that expired for most businesses in September. Originally introduced by the CARES Act in 2020, the program provided employers... Read More

Stocks Slip, Yields Soar on Hottest Inflation in 40 Years

NEW YORK (AP) — With inflation going only higher, stocks are slipping on Wall Street Thursday as expectations build that... Read More

NEW YORK (AP) — With inflation going only higher, stocks are slipping on Wall Street Thursday as expectations build that the Federal Reserve will have to get more aggressive about removing the tremendous support it’s given the economy. The hottest... Read More

Frontier Airlines Buying Spirit in $3B Low-Cost Carrier Deal

Frontier is buying Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation's fifth largest carrier. The... Read More

Frontier is buying Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation's fifth largest carrier. The tie-up is valued at $6.6 billion when accounting for the assumption of debt and other liabilities. The companies said Monday... Read More

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